Textile sector assured of timely refunds

Published: October 3, 2017
A textile mill. PHOTO: REUTES

A textile mill. PHOTO: REUTES

ISLAMABAD: The Ministry of Commerce and Textile has assured textile exporters of timely release of funds under the Prime Minister’s “Trade Enhancement Package” of Rs162 billion.

“We paid Rs9 billion out of a total of Rs15 billion in the last fiscal year in the form of duty drawback for the textile sector,” a senior official of the ministry told APP on Monday.

He added that the government had accorded priority to the textile sector and was helping to increase its competitiveness in order to enhance the country’s exports.

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Replying to a question, he said the government was planning to expand the scope of the trade package in an attempt to include other sectors including pharmaceutical products.

The government has also relaxed rules for the import of textile machinery to pave the way for modernisation of manufacturing units and enhancing their capacities. The official claimed that the trade package would bring the cost of doing business down substantially.

Published in The Express Tribune, October 3rd, 2017.

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